Does Tim Sheehy Support Crypto?

Bill

CLARITY Act

Details

The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.

Vote

Key Cloture VoteProcedural Action

Significance

Because of the way Senate rules work, CLARITY could not have gotten to a final vote without members voting in favor.

Bill

GENIUS Act

Details

The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.

Bill

Deploying American Blockchains Act of 2025

Details

This bill directs the Secretary of Commerce to serve as a primary advisor to the President on policies related to the deployment, use, application, and competitiveness of blockchain technology, tokens, and tokenization. It mandates the establishment of a National Blockchain Deployment Advisory Committee, comprising government and private sector experts, to study and make recommendations. The bill also requires the Secretary to facilitate the development of best practices and foster open-source infrastructure for these technologies, without imposing mandatory compliance on private entities.

Bill

S.J. Res 3

Details

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".

Quoted from standwithcrypto.org · 2024-06-05

Tim Sheehy completed the Stand With Crypto Questionnaire and demonstrated support for crypto and digital assets. He emphasized the importance of crypto in driving technological innovation, economic growth, and job creation. Tim Sheehy supports comprehensive regulatory frameworks that offer clarity and promote responsible innovation.